Log In/Sign Up
Your email has been sent.
Riverside Fourplex 700-704 SW 16th Ave 4 Unit Apartment Building $1,322,589 CAD ($330,647 CAD/Unit) 6.07% Cap Rate Fort Lauderdale, FL 33312
INVESTMENT HIGHLIGHTS
- Fully Occupied: All four 2-bedroom, 1-bath units are currently rented, producing $6,700 in consistent monthly income.
- Individually Metered: Each unit comes with central A/C and its own electric meter, allowing tenants to cover utilities and keeping owner expenses low.
- Solid Property: The 3,047 SF building sits on a large 10,000 SF lot, providing long-term stability and room for potential improvements.
- Rental Upside: With market rents on the rise, the property has the potential to increase gross income to approximately $8,800 per month.
- Great Location: Minutes from I-95, Fort Lauderdale-Hollywood International Airport, Downtown, Las Olas, and the beach, offering tenants excellent.
- Growing Market: Located in one of South Florida’s fastest-growing rental corridors, supported by strong demand, job growth, and appreciation trends.
EXECUTIVE SUMMARY
Rare investment opportunity in Fort Lauderdale — a 4-unit apartment complex at 700 SW 16th Ave. This 3,047 SF building on a spacious 10,000 SF lot includes four large and spacious 2-bedroom, 1-bath units. Each unit features central AC and individual electric meters. The property currently generates $6,700 in monthly rental income, with strong upside potential to increase rents to approximately $8,800 per month when adjusted to market rates. Ideally located minutes from I-95, Fort Lauderdale-Hollywood International Airport, downtown, and the beach, this property offers excellent access and sits in one of South Florida’s fastest-growing markets.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$110,931
|
$37.73
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$110,931
|
$37.73
|
| Taxes |
$19,562
|
$6.65
|
| Operating Expenses |
$10,885
|
$3.70
|
| Total Expenses |
$30,447
|
$10.36
|
| Net Operating Income |
$80,484
|
$27.38
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $110,931 |
| Annual Per SF | $37.73 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $110,931 |
| Annual Per SF | $37.73 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,562 |
| Annual Per SF | $6.65 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $10,885 |
| Annual Per SF | $3.70 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $30,447 |
| Annual Per SF | $10.36 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $80,484 |
| Annual Per SF | $27.38 |
PROPERTY FACTS
| Price | $1,322,589 CAD | Building Class | C |
| Price Per Unit | $330,647 CAD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,940 SF |
| Cap Rate | 6.07% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 3/1,000 SF |
| Zoning | RM-15 - Multifamily Dwelling District | ||
| Price | $1,322,589 CAD |
| Price Per Unit | $330,647 CAD |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,940 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 3/1,000 SF |
| Zoning | RM-15 - Multifamily Dwelling District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $2,320 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | 50-42-09-03-0110 | Total Assessment | $898,091 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $19,562 CAD ($6.65 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
50-42-09-03-0110
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$898,091 CAD (2025)
Annual Taxes
$19,562 CAD ($6.65 CAD/SF)
Tax Year
2024
1 of 16
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Riverside Fourplex | 700-704 SW 16th Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.